When you buy stuff – smartphone, cars, computers, lawn mower—they usually come with a warranty. A warranty helps you to cover the cost of repair or replacement when such devices become damaged. You can also pay an extra for an extended warranty that keeps the manufacturer or seller under obligation to fix or repair the item if it breaks down even after the regular warranty period. What many people don’t know however is that you can buy a warranty for your home.
A home warranty is simply a policy that provides coverage on the cost of fixing or replacing home appliances when they become damaged. A home warranty is different from a home insurance in that while home insurance covers the structure of your house, the home warranty covers the appliances and systems in the house. More so, it is somewhat compulsory to have homeowners insurance but a home warranty is optional; yet, below are three reasons you should seriously consider buying a home warranty.
- Save money on repairs
Repairs on home appliances and systems are usually costly; unfortunately, nothing lasts forever and home appliances have a tendency of breaking down at the most inopportune moments. A home warranty typically covers systems such as plumbing, electrical, washer and dryer, HVAC, and kitchen appliances. A home warranty saves you from having to spend money out of your pocket to repair these items when they break down.
When an item under the home warranty coverage breaks down, you call the warranty company and they’ll send someone over to fix the item. If it can’t be fixed, you can reasonably expect the home warranty company to bear the cost of replacement. ReviewHomeWarranties provides insight on companies that offer home warranties so that you can find a local provider that offers excellent coverage at fair prices.
- Escape the stress that comes with home ownership and maintenance
Home ownership is fun and exciting, until the hidden costs of homeownership begin to take a toll on your wallet and your emotional sanity. A homeowner spends more money, effort and time on home maintenance than a renter because there’s no other landlord or property manager to call – the buck stops at your door. Hence, homeowners could find themselves under immense stress and pressure when their home appliances breakdown and they have to navigate the maze of finding and working with contractors.
A home warranty takes the stress out of homeownership because the warranty company does the heavy lifting of keeping your home systems and appliances in top shape. You also don’t have to worry about finding the right contractor because the warranty company has established relationships with licensed technicians who will fix faulty appliances. Hence, you don’t have to spend countless hours reading reviews or worrying about whether the technician has enough insurance.
- A home warranty helps you sell your home at a better price
Buyers are very selective when buying real estate – they look at the structural integrity of the house, the state of systems, appliances, and fixtures, and they look at the curb appeal among other things before they decide to buy. Hence, if your home is in a state of disrepair relative to other houses in the same market, your house will probably be the last to sell, and even at a ridiculously cheaper price. A home warranty ensures that your house doesn’t fall into a state of disrepair because you didn’t have the funds or time to facilitate timely repairs when things breakdown.
More so, buyers don’t want to start spending money on fixing home appliances and systems soon after moving in – it could be very frustrating dealing with a clogged toilet barely two weeks after moving in. Buyers will be more inclined to purchase a property that has a home warranty because it offers them protection in the event that one of the home systems break down after they close the deal.